Clipstone IPO to raise £150m

A LOGISTICS real estate investment trust is seeking to raise an initial £150m in a listing on the London Stock Exchange as it looks to tap into the boom in UK online retailing.

Clipstone Logistics Reit confirmed yesterday that £72m of properties would be acquired upon admission, of which the majority were ware­houses let to retailers such as TK Maxx. Following the deal, Clipstone will have around will have an estimated £75m of equity to invest.